TCV Trust & Wealth Management Inc. Raises Position in ONEOK, Inc. (NYSE:OKE)

TCV Trust & Wealth Management Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 91.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,856 shares of the utilities provider's stock after purchasing an additional 2,800 shares during the period. TCV Trust & Wealth Management Inc.'s holdings in ONEOK were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. National Pension Service raised its position in shares of ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock worth $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. raised its position in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider's stock worth $4,972,000 after purchasing an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC raised its position in shares of ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after purchasing an additional 21,847 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after purchasing an additional 5,321 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Down 1.0 %

Shares of NYSE:OKE traded down $1.01 during mid-day trading on Friday, reaching $97.96. 2,813,945 shares of the company were exchanged, compared to its average volume of 4,202,985. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market cap of $57.23 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70. The firm's 50-day simple moving average is $101.79 and its 200 day simple moving average is $98.05. ONEOK, Inc. has a 1 year low of $69.01 and a 1 year high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is presently 86.19%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OKE shares. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price objective for the company. Mizuho upgraded shares of ONEOK to a "hold" rating in a report on Thursday, November 7th. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.92.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.